The Dow Market Happenings For Thursday, July 19, 2018

Dow stocks at 52 week highs include Visa (V). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -69 points.

Wednesday the Dow was up +79.40 (+0.32%) at 25,199.29.

Year-to-date the Dow is up +1.94%.

There were 15 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by UnitedHealth (UNH) +2.05% and American Express (AXP) +1.81%.

The Dow stock losers Wednesday were led by McDonald’s (MCD) -1.14% and Nike (NKE) -1.14%.

American Express (AXP +1.81%) fell 3% in after-hours trading after it reported Q2 revenue of $10.00 billion, below consensus of $10.07 billion and said Q2 consolidated expenses rose 7% y/y to $7.1 billion.

Goldman Sachs (GS +0.10%) was upgraded to ‘Strong Buy’ from ‘Market Outperform’ at Vining Sparks with a price target of $285.

International Business Machines (IBM +0.72%) is up 3% in pre-market trading after it reported Q2 adjusted EPS of $3.08, higher than consensus of $3.04.

UnitedHealth (UNH) is in the running for Tenet Healthcare Corp.’s (THC) healthcare management subsidiary, Conifer, in a deal that could be valued at $2 billion.

Unemployment insurance weekly claims in the week ending July 14, the advance figure for seasonally adjusted initial claims was 207,000, a decrease of 8,000 from the previous week’s revised level. This is the lowest level for initial claims since December 6, 1969 when it was 202,000. The previous week’s level was revised up by 1,000 from 214,000 to 215,000. The 4-week moving average was 220,500, a decrease of 2,750 from the previous week’s revised average. The previous week’s average was revised up by 250 from 223,000 to 223,250. The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending July 7, unchanged from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending July 7 was 1,751,000, an increase of 8,000 from the previous week’s revised level. The previous week’s level was revised up 4,000 from 1,739,000 to 1,743,000. The 4-week moving average was 1,735,750, an increase of 6,250 from the previous week’s revised average. The previous week’s average was revised up by 1,000 from 1,728,500 to 1,729,500.

European stocks are mostly lower and Asian markets ended lower.

The national average price of gasoline is down seven-tenths of a cent at $2.858 per gallon.

Earnings Reports.

Walgreens (WBA) reported earnings on 6/28/2018 before the market open with $1.53 per share, beating estimates calling for $1.503 per share.

Nike (NKE) reported earnings on 6/28/2018 after the market close of $0.69, beating estimates of $0.673 per share.

JPMorgan (JPM) reported earnings on 7/13/2018 before the market open of $2.27, beating estimates calling for $2.27 per share.

Goldman Sachs (GS) reported earnings on 7/17/2018 before the market open of $5.98, beating estimates calling for $4.66 per share.

Johnson & Johnson (JNJ) reported earnings on 7/17/2018 before the market open of $2.10, beating estimates of $2.083 per share.

UnitedHealth (UNH) reported earnings on 7/17/2018 before the market open of $3.14, beating estimates of 3.088 per share.

American Express (AXP) reported earnings on 7/18/2018 after the market close of $1.84, missing estimates calling for $1.868 per share.

IBM (IBM) reported earnings on 7/18/2018 after the market close of $3.08, beating estimates calling for $3.058 per share.

Travelers (TRV) reported earnings on 7/19/2018 before the market open $1.92, missing estimates of $2.446 per share.

Microsoft (MSFT) reports earnings on 7/19/2018 after the market close.

3M (MMM) reports earnings on 7/24/2018 before the market open.

United Technologies (UTX) reports earnings on 7/24/2018 before the market open.

Verizon (VZ) reports earnings on 7/24/2018 before the market open.

Boeing (BA) reports earnings on 7/25/2018 before the market open.

Coca Cola (KO) reports earnings on 7/25/2018 before the market open.

McDonald’s (MCD) reports earnings on 7/26/2018 before the market open.

Intel (INTC) reports earnings on 7/26/2018 after the market close.

Chevron (CVX) reports earnings on 7/27/2018 before the market open.

Exxon Mobil (XOM) reports earnings on 7/27/2018 before the market open.

Merck (MRK) reports earnings on 7/27/2018 before the market open.

Caterpillar (CAT) reports earnings on 7/30/2018 before the market open.

Pfizer (PFE) reports earnings on 7/31/2018 before the market open.

Procter & Gamble (PG) reports earnings on 7/31/2018 before the market open.

Apple (AAPL) reports earnings on 7/31/2018 after the market close.

Today’s Featured Dow Stock

Verizon (VZ)

Verizon (VZ) is down -3.38% year-to-date.

Financial Calendar

12:30 Continuing Jobless Claims, 1,730K, 1,739K

12:30 Initial Jobless Claims, 220K, 214K

12:30 Jobless Claims 4-Week Avg., 223.00K

12:30 Philadelphia Fed Manufacturing Index (Jul), 21.6, 19.9

12:30 Philly Fed Business Conditions (Jul), 34.8

12:30 Philly Fed CAPEX Index (Jul), 36.50

12:30 Philly Fed Employment (Jul), 30.4

12:30 Philly Fed New Orders (Jul), 17.9

12:30 Philly Fed Prices Paid (Jul), 51.80

13:00 FOMC Member Quarles Speaks

13:45 Bloomberg Consumer Confidence, 58.0

14:30 Natural Gas Storage, 57B, 51B

17:00 10-Year TIPS Auction, 0.934%

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